Fourth-quarter bookings rose by 14 percent to $11.1 billion. In case, Waymo is able to justify their allegations and prove that Uber is involved in unethical practices of stealing their trade secrets and initiated the development of the self-driving technology program, then there are high chances that they would stop the development process and demand for the damages caused by the stealing activity up to $1.86 billion.
Uber and Google sibling company Waymo have reached a settlement on a lawsuit stemming from a self-driving auto technology dispute. Despite a turbulent year for the company, it still managed to earn sales of $7.5 billion, although this was tempered by a substantial loss of $4.5 billion, an unprecedented number.
The 61% increase in losses for the fast-expanding and controversial company came at the same time as revenues surged by 85% to $37bn.
Last month, ride-hailing group agreed to sell $10 billion of its stock to a consortium led by Japan's internet giant SoftBank Group Corp. recently for a 15 percent stake, making it the Uber's largest shareholder. The surprise settlement announced Friday came as lawyers for Uber and Waymo, a company hatched from Google, prepared to wrap up the first week of a trial that had attracted global attention. On an adjusted basis, excluding stock-based compensation, legal costs, taxes and depreciation, the company lost $US2.2 billion for the full year.
Zimbabwe's Main Opposition Leader Morgan Tsvangirai Has Died
Also, hundreds of party workers gathered at the MDC head quarters mourning the death of their leader. He said an all-inclusive process to take the country to legitimacy was the only way forward.
Earlier this month Uber ended the autonomous vehicle trade secrets lawsuit filed by Alphabet Inc.'s Waymo for a payment of Uber stock valued by Waymo at $245 million. Uber concluded the year with about $6 billion in cash, 13 percent less than the year before.
Waymo filed its lawsuit almost a year ago, adding to Uber's woes with allegations of a bold hi-tech heist orchestrated by its former CEO, Travis Kalanick, and a former Google engineer.
The figures cover a troubled year for the company as it faced sexual harassment claims and saw the departure of senior executives including its boss, co-founder Travis Kalanick, and a battle to continue operating in London.
The full-year loss grew from $2.8 billion in 2016, a year with results skewed by a gain from the sale of Uber's unprofitable business in China.
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